Eagle Bancorp Inc. (EGBN) Downgraded by Zacks Investment Research
Eagle Bancorp Inc. (NASDAQ:EGBN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday.
According to Zacks, “EAGLE BANCORP is the holding company for EagleBank. The Bank is headquartered in Bethesda, Maryland, and conducts full service commercial banking services through nine offices, located in Montgomery County, Maryland and Washington, D.C. The Company focuses on building relationships with businesses, professionals and individuals in its marketplace. “
Eagle Bancorp (NASDAQ:EGBN) traded down 0.50% during mid-day trading on Tuesday, reaching $49.73. 63,954 shares of the company’s stock were exchanged. Eagle Bancorp has a 52-week low of $43.75 and a 52-week high of $55.56. The company has a 50-day moving average of $50.07 and a 200-day moving average of $49.61. The stock has a market cap of $1.67 billion, a price-to-earnings ratio of 18.63 and a beta of 0.83.
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Eagle Bancorp (NASDAQ:EGBN) last announced its earnings results on Wednesday, July 20th. The financial services provider reported $0.71 EPS for the quarter, beating the Zacks’ consensus estimate of $0.67 by $0.04. Eagle Bancorp had a net margin of 30.91% and a return on equity of 12.15%. During the same quarter in the previous year, the firm posted $0.61 EPS. Equities research analysts anticipate that Eagle Bancorp will post $2.79 earnings per share for the current year.
In other Eagle Bancorp news, Director Leslie M. Alperstein sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $49.24, for a total value of $246,200.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Dudley C. Dworken sold 1,167 shares of the company’s stock in a transaction that occurred on Friday, September 23rd. The stock was sold at an average price of $50.31, for a total value of $58,711.77. The disclosure for this sale can be found here. Insiders own 9.99% of the company’s stock.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Rothschild Asset Management Inc. bought a new stake in Eagle Bancorp during the second quarter valued at $265,000. Mutual of America Capital Management LLC raised its stake in Eagle Bancorp by 2.8% in the second quarter. Mutual of America Capital Management LLC now owns 74,820 shares of the financial services provider’s stock valued at $3,600,000 after buying an additional 2,058 shares during the last quarter. California State Teachers Retirement System raised its stake in Eagle Bancorp by 0.9% in the second quarter. California State Teachers Retirement System now owns 64,132 shares of the financial services provider’s stock valued at $3,085,000 after buying an additional 570 shares during the last quarter. Profit Investment Management LLC bought a new stake in Eagle Bancorp during the second quarter valued at $201,000. Finally, Shinko Asset Management Co. Ltd. raised its stake in Eagle Bancorp by 91.4% in the second quarter. Shinko Asset Management Co. Ltd. now owns 145,388 shares of the financial services provider’s stock valued at $6,995,000 after buying an additional 69,419 shares during the last quarter. Hedge funds and other institutional investors own 67.68% of the company’s stock.
About Eagle Bancorp
Eagle Bancorp, Inc is a bank holding company for EagleBank (the Bank). The Bank is the Company’s principal operating subsidiary. The Bank is a chartered commercial bank, which operates over 20 banking offices in Montgomery County, Maryland; District of Columbia, and Northern Virginia. The Bank offers a range of commercial banking services to its business and professional clients, as well as consumer banking services to individuals living or working in the service area.
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